In the latest Healthcare Business Strategy report, Mark Farrah
Associates (MFA), www.markfarrah.com,
reported Medicare Supplement membership experienced a year-over-year
increase of 3.95%. Medicare Supplement plans, also known as Medigap or
Med Supp plans, covered almost 13.6 million seniors as of December 31,
2018. Many leading managed care organizations, Blues plans, regional
plans, and multiline carriers compete in the Medicare Supplement arena.
Medicare Supplement plans collectively earned approximately $31.3
billion in premiums and paid out $24.7 billion in claims during 2018.
The aggregate loss ratio (incurred claims as a percent of earned
premiums) was 78.9%.
MFA’s assessment of standardized plan type preferences for 2018 found
Plan F, the most comprehensive design, enrolled almost 7.05 million
Enrollment gains were also significant in standardized plan type G
with a growth rate of 39%.
To read the FREE full text of “Medicare
Supplement Enrollment Up Nearly 4% in 2018“, visit the MFA
Briefs on Mark Farrah Associates’ website.
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About Med Supp Market Data
Med Supp Market Data, a Health Coverage Portal option offered by Mark
Farrah Associates, presents the latest market share and financial
performance data for Medicare Supplement plans. The product includes
state-by-state membership, premiums, claims and loss ratios for plans
nationwide. Online tables also include claims contacts as reported in
the financial statements as filed with the National Association of
Insurance Commissioners (NAIC). California managed care plans do not
file financial statements with the NAIC and are not included in this
analysis. For more information about Med
Supp Market Data, please visit our website (www.markfarrah.com)
or call 724.338.4100.
About Mark Farrah Associates (MFA)
MFA is a leading data aggregator and publisher providing health plan
market data and analysis tools for the healthcare industry. Committed to
simplifying analysis of health insurance business, our products include
Medicare Business Online™, Medicare Benefits Analyzer™, Health Coverage
Portal™, County Health Coverage™, and Health Plans USA™. Mark Farrah
Associates maintains financial data as well as enrollment and market
share for the health insurance industry in its subscription-based Health
Coverage Portal™. MFA will continue to monitor enrollment changes
and competitive shifts across all healthcare segments.